Griffin Asset Management Inc. Has $214,000 Stock Position in Crown Castle Inc. (NYSE:CCI)

Griffin Asset Management Inc. decreased its position in shares of Crown Castle Inc. (NYSE:CCI) by 11.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,190 shares of the real estate investment trust’s stock after selling 289 shares during the period. Griffin Asset Management Inc.’s holdings in Crown Castle were worth $214,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of CCI. Ables Iannone Moore & Associates Inc. acquired a new stake in Crown Castle during the fourth quarter valued at $25,000. Rational Advisors LLC acquired a new stake in shares of Crown Castle in the first quarter worth about $27,000. EntryPoint Capital LLC acquired a new stake in shares of Crown Castle in the first quarter worth about $27,000. Gables Capital Management Inc. lifted its position in shares of Crown Castle by 164.0% in the fourth quarter. Gables Capital Management Inc. now owns 264 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 164 shares during the last quarter. Finally, Richardson Financial Services Inc. acquired a new stake in shares of Crown Castle in the fourth quarter worth about $30,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Raymond James reaffirmed an “outperform” rating and issued a $126.00 price target (up previously from $124.00) on shares of Crown Castle in a research report on Friday, June 14th. Deutsche Bank Aktiengesellschaft boosted their price target on Crown Castle from $103.00 to $105.00 and gave the stock a “hold” rating in a research report on Tuesday, July 23rd. Royal Bank of Canada boosted their price target on Crown Castle from $100.00 to $104.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 25th. TD Cowen lifted their price objective on Crown Castle from $124.00 to $127.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Finally, Bank of America lifted their price objective on Crown Castle from $110.00 to $115.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 13th. Twelve analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $113.53.

Crown Castle Trading Down 0.1 %

CCI stock opened at $109.49 on Friday. Crown Castle Inc. has a 1-year low of $84.72 and a 1-year high of $119.50. The firm has a market cap of $47.58 billion, a P/E ratio of 34.22 and a beta of 0.83. The business’s 50 day moving average is $103.82 and its 200-day moving average is $102.98. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 4.04.

Crown Castle (NYSE:CCI) last released its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.04. Crown Castle had a return on equity of 19.20% and a net margin of 17.98%. The company had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.62 billion. During the same period in the prior year, the company posted $2.05 EPS. The company’s revenue was down 12.9% compared to the same quarter last year. Equities analysts anticipate that Crown Castle Inc. will post 6.64 earnings per share for the current fiscal year.

Crown Castle Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be issued a $1.565 dividend. This represents a $6.26 annualized dividend and a dividend yield of 5.72%. The ex-dividend date is Friday, September 13th. Crown Castle’s payout ratio is currently 195.63%.

Insider Transactions at Crown Castle

In other news, COO Michael Joseph Kavanagh sold 10,883 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $103.72, for a total value of $1,128,784.76. Following the transaction, the chief operating officer now directly owns 75,127 shares of the company’s stock, valued at approximately $7,792,172.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.39% of the stock is owned by company insiders.

Crown Castle Profile

Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 90,000 route miles of fiber supporting small cells and fiber solutions across every major U.S. market. This nationwide portfolio of communications infrastructure connects cities and communities to essential data, technology and wireless service – bringing information, ideas and innovations to the people and businesses that need them.